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Russian cabinet to allocate $16 mln to developers of LNG production equipment, PM says

Mikhail Mishustin emphasized that diversification of exports is one of the main areas of the development of Russia’s energy sector

© Yuri Smityuk/TASS

MOSCOW, August 17. /TASS/. Russia’s government will allocate 1 bln rubles ($16 mln) for recovery of developers’ expenses on R&D works for creation of LNG production equipment, Prime Minister Mikhail Mishustin said at a government meeting on Wednesday.

"The government will support developers, allocating 1 bln rubles for recovery of costs on R&D works using cutting-edge technologies," he said.

"Those funds will allow the launch and partial financing of four projects on the creation of LNG equipment for medium-and large-scale production this year," PM explained.

Diversification of exports is one of the main areas of the development of Russia’s energy sector, Mishustin noted. "It will be possible to expand the geography of supplies particularly through entering promising markets for selling liquified natural gas. Meanwhile, it is important not only to search for new buyers, but also to develop own production of critical equipment, with its list formed jointly with key clients, including 18 prior areas," he said.

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